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Scranton, Inc. reports net income of $254,000 for the year ended December 31. It also...

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Accounting

Scranton, Inc. reports net income of $254,000 for the year ended December 31. It also reports $98,100 depreciation expense and a $6,200 gain on the sale of equipment. Its comparative balance sheet reveals a $40,300 decrease in accounts receivable, a $18,150 increase in accounts payable, and a $14,100 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.

Multiple Choice

$292,450.

$418,450.

$396,450.

$353,950.

$390,250.

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